Key Highlights
- XRP collapsed through $1.31 critical support, reaching an intraday low of $1.2801 with a 4% decline over 24 hours
- Network engagement on XRP Ledger plummeted 42% to approximately 18,000 active addresses on Wednesday
- Institutional XRP ETFs saw $1.32 million in withdrawals Wednesday, adding to Monday’s $2.3 million exodus
- Technical analyst CasiTrades forecasts possible decline into the $1.05–$1.09 support zone
- Bearish sentiment intensifies with negative funding rates while open interest climbs
XRP is hovering around the $1.30 threshold following a decisive breach of the $1.31 support barrier on April 3, 2026. The digital asset plunged to $1.2801 at its lowest point, representing a 4% contraction within a 24-hour window, based on CoinMarketCap figures. The selloff witnessed trading volume surge more than 23%, indicating substantial market engagement during the breakdown.
Earlier this week, XRP’s recovery effort hit resistance around $1.37 on Monday. From that point forward, the cryptocurrency has experienced consistent downward pressure, penetrating multiple near-term support thresholds.
The asset currently trades beneath its 20-day, 50-day, and 200-day exponential moving averages (EMAs). The 50-day EMA is positioned around $1.44, while the 200-day EMA hovers near $1.89 — both considerably above present valuation.
The MACD indicator has dropped below its signal line and entered negative terrain. The RSI registers near 38, positioned below the neutral 50 threshold, suggesting weakened momentum without entering oversold conditions.
Network Participation Experiences Significant Decline
Active wallet addresses on the XRP Ledger contracted by approximately 42% to roughly 18,000 on Wednesday, declining from nearly 32,000 addresses recorded Tuesday. Data from CryptoQuant reveals that network participation has remained subdued since early February, with only sporadic temporary increases.
Diminished network engagement typically correlates with reduced buying demand and compromised price stability.
Exchange-Traded Fund Withdrawals Intensify Selling Pressure
XRP exchange-traded funds registered withdrawals totaling $1.32 million on Wednesday. This follows Monday’s $2.3 million in redemptions, per SoSoValue tracking data. Tuesday’s activity remained relatively quiet.
These back-to-back capital outflows indicate waning institutional appetite for XRP exposure in the near term.
Technical analyst CasiTrades identified the $1.31 breakdown as a significant bearish development. Her analysis projects movement toward the $1.05–$1.09 support corridor, with potential for a secondary decline to $0.87, which she characterizes as the final substantial support within a broader macro correction zone.
🚨Breakdown Playing Out on XRP! 🚨
We just saw $1.31 support break, and this is exactly what I mentioned in the last update. Once that level failed, a sharp move down was likely.
Now that momentum is kicking in, I’m expecting this to carry into the $1.05–$1.09 range, which is… pic.twitter.com/MPgQQuEdzM
— CasiTrades 🔥 (@CasiTrades) April 2, 2026
CoinGlass analytics reveal substantial liquidity concentrations within the $0.90–$1.10 band, which frequently function as price attractors during aggressive selloffs.
Funding rates for XRP perpetual futures have shifted negative to -0.0087%, signaling that traders are predominantly positioned short. Open interest expanded beyond 1.3%, while futures trading volume reached nearly $3.34 billion. Spot market volume remains comparatively subdued, suggesting derivatives traders are primarily influencing current price dynamics.
Critical resistance zones to monitor include $1.3240 and $1.3340. A sustained close above $1.3340 might facilitate advancement toward $1.35 and $1.3650. Conversely, $1.2880 and $1.2750 represent the next significant support levels on the downside.
